MANAMA: A top Indian bank has offered its service to Bahrain companies, which want to follow the Labour Ministry's directives to transfer salary into accounts.

ICICI Bank, India's second largest bank, yesterday announced the launch of the Money2India Remittance account for customers in Bahrain.

This is a zero balance account that offers quick, affordable and convenient remittance facilities through various branch-based as well as online channels.

It will benefit Indian expatriates employed in Bahrain as well as corporates, said ICICI Bank country head-Bahrain, Ajay Sharma.

"We have specially introduced this facility now in light of the recently passed regulation by the Labour Ministry making salary transfers mandatory into bank accounts," he told the GDN.

"Corporates will get the benefit of cashless salary transfers at the click of a button while employees will get the benefit of easy money transfers and a free VISA-enabled debit card.

"The debit card can be used for withdrawing cash from any of the VISA-enabled ATMs in Bahrain."

Mr Sharma said ICICI Bank would help companies to comply with the latest Labour Ministry regulation through door-step account opening at every corporate office.

ICICI global remittances head Manish Misra said the account has been conceptualised based on the need for enhancing the remitter experience by enabling multiple channels, facilitated by state-of-the-art technology.

Located at Manama Centre, ICICI Bank's Offshore Banking Unit offers a range of asset and liability products to Non-Resident Indian (NRI) customers in Bahrain through its multi-channel delivery network of branch, ATM and Internet banking.

The bank had launched its real time remittance initiative in 2004 through the branch channel and had extended it to the online channel in November last year.

ICICI Bank's international presence currently spans 14 countries and includes three wholly-owned subsidiaries in the UK, Russia and Canada, offshore banking units in Singapore and Bahrain, an advisory branch in Dubai, branches in Sri Lanka, Hong Kong and Belgium and representative offices in the US, China, UAE, Bangladesh and South Africa.

ICICI Bank has an asset base of about $56 billion as on March 31 this year.

Its multi-channel access network includes 630 branches and extension counters, 2,225 ATMs, call centres and Internet banking (www.icicibank.com).